Canada posts first trade surplus since May 2019 as exports surge

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Statistics Canada says January saw the country post its first trade surplus since May 2019 as exports surged higher.

The agency says the surplus of $1.4 billion was the largest surplus since July 2014 and compared with a revised deficit of nearly $2 billion in December.

Economists on average had expected a deficit of $1.4 billion for January, according to financial data firm Refinitiv.

Read more: Canadian economy posts worst showing on record in 2020

Total exports rose 8.1 per cent in January to $51.2 billion, with increases in all product sections.

Meanwhile, total imports increased 0.9 per cent in January to $49.8 billion

In real or volume terms, exports were up 5.1 per cent, while imports gained 1.0 per cent.

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